Corn, Soybean, and Wheat Yield Trends by Ohio County, 1972-2018

by: Carl Zulauf, Robert Dinterman, and Ben Brown, Ohio State University, November 2019

Click here to access full report complete with figures

Yield growth is the primary source of increased production of crops in Ohio and most of the US.  Most land that can be cropped is being cropped.  Understanding historic yield trends is thus important to an informed understanding of Ohio agriculture.  This article examines trends in corn, soybean, and wheat yields since 1972 at the Ohio state level and across Ohio counties.  These three crops composed 87% of Ohio harvested crop acres in the 2017 Census of US Agriculture.  Trend yield is higher for corn than soybean and wheat, both in terms of bushel / acre and percent of yield.  Trend yields vary across Ohio counties, particularly for corn.  Implications are drawn for Ohio crop agriculture, with a particular point of interest being the implication for the CAUV (Current Agricultural Use Value) program that taxes farm land at its agricultural use value rather than its appraised value.

Analysis:  Yield per harvested acre is analyzed.  Source for the data is USDA, NASS (US Department of Agriculture, National Agricultural Statistics Service).  The analysis starts with the 1972 crop and ends with the 2018 crop.  It spans 47 years that include periods of prosperity, financial stress, and tight profit margins.  Not all counties have 47 years of observations for each crop.  It was decided a county should have at least half or 24 years of observations to be included in the analysis.  This decision reflects (1) consideration of the power of statistical tests, (2) that 24 years is a “natural break” in the distribution of number of county yield observations, and (3) a feeling that it seems reasonable to require yields for at least half of all years in order to have confidence in a county’s estimated trend yield.  Counties with 24 years of harvested yields total 86, 78, and 69 for corn, soybeans, and wheat, respectively.  The county yield trends were tested for statistical difference from the yield trend for Ohio.  For additional discussion of the analytical procedures, see the Data Note.

Corn Yield Trend:  Ohio linear corn yield trend is +1.76 bushel / year over 1972- 2018 (see Figure 1).  In comparison, average of the 86 county yield trends estimated for corn is +1.62 bushel / year.  Since the state yield is the average of county yield weighted by the amount of production in the county, the higher state trend yield suggests counties with more corn production had a higher yield trend.

County corn yield trend ranged from +0.66 (Carroll County) to +2.14 (Clinton County) (see Figures 1 and 2).  When examining the range of values, it is useful to assess if the extreme values are outliers.  Examination of the county corn yield trends suggests that both Carroll and the county with the next lowest trend (Belmont – +0.71) are outliers as the next lowest yield trend is +1.09 for Monroe County.

Individual county yield trends were tested for statistically significant deviation from Ohio’s yield trend (see Date Note).  Thirty-five (41%) of county corn yield trends deviated from the state yield trend with the commonly-used 95% level of statistical confidence (see Figure 2).  Corn yield trend was above (below) the state corn yield trend in 9 (26) counties.  It was thus almost three times more likely for statistically significant county yield trends to be below than above the Ohio trend yield. Counties with a statistically significant lower trend have a tendency to be in eastern Ohio (see Figure 2).  Statistically significant higher corn yield trends have a tendency to be in southwestern and central Ohio.

Soybean Yield Trend:  Ohio linear soybean trend yield is +0.48 bushel per year over 1972-2018, the same as the average of the 78 county trend yields estimated for soybeans (see Figure 3).  Unlike corn, this comparison does not suggest county soybean yield trend varied with amount of county production.

County soybean yield trend ranged from +0.23 (Lawrence County) to +0.59 (Fairfield County) (see Figures 3 and 4).  Lawrence County may be an outlier as the next lowest soybean yield trend was Summit County at +0.30 bushel per year.

Statistically significant deviation from the state yield trend was far less common for soybeans than corn.  Only 10 (13%) of county soybean yield trends deviated from the state yield trend with 95% statistical confidence (see Figure 4).  Five were below and 5 were above the state trend.  The small number of counties with statistically significant deviations from the state yield trend calls for caution in making regional categorization of these deviations.  Given this caveat, the 5 counties with trend yield above the Ohio trend yield are in central Ohio.

Wheat Yield Trend:  Ohio’s linear wheat yield trend is +0.76 bushel per year over 1972-2018, nearly identical to the average of the 69 county yield trends estimated for wheat (see Figure 5).  Similar to soybeans and unlike corn, this comparison does not suggest wheat county yield trend varied with amount of county production.

County wheat yield trend ranged from +0.38 (Carroll County) to +0.98 Pickaway County) (see Figures 5 and 6).  There did not appear to be any obvious outlier county wheat yields.

Twenty (29%) of the county wheat yield trends deviated from Ohio’s wheat yield trend with 95% statistical confidence (see Figure 6).  As with corn, it was more common for a county yield trend that differed from the Ohio yield trend with statistical significance to be above than below Ohio’s trend (13 vs. 7).  No clear regional category of deviations from the state wheat trend yield is apparent.  Counties with significant deviations from the state trend are dispersed across Ohio (see Figure 6).

Comparing Yield Trend across Crops:  Comparing yield trend across corn, soybeans, and wheat is complicated by their different yield levels.  Given the use of regression analysis, one useful measure of yield level is the estimated intercept value for 1972.  These intercepts for Ohio corn, soybeans, and wheat are 87, 29, and 40 bushels/acre, respectively.  Taking the ratio of Ohio trend yield to the Ohio intercept finds that yield grew fastest for corn (2.0%) and slowest for soybeans (1.7%) (see Figure 7).  The difference may seem small, but it is an annual difference that has extended over 47 years.

Another useful comparison is to examine the relative variation in county yield trends by crop.  One such measure is the ratio of the standard deviation of county yield trends to the average county yield trend.  Using the values in Figures 1, 3, and 5, the so-called coefficient of variation ratio is 18% for corn, 12% for soybeans, and 16% for wheat.  Eliminating the two outlier county yield trends for corn reduces its coefficient of variation to 15%.  The coefficient of variation thus suggests that soybean yield trends varied less across Ohio counties than did corn and wheat yield trends.

Summary Observations:

►   Linear yield trend is higher for Ohio corn than soybeans, with wheat in between.

►   Among the three crops, soybean yield trends differ the least across Ohio’s counties.

►   County yield trends are more likely to deviate from Ohio’s yield trend with statistical significance for corn than for soybeans.

►   Only readily-apparent regional patterns in yield growth are a higher probability of slower yield growth for corn in eastern Ohio and faster yield growth for corn in central and southwestern Ohio.

►   Corn’s differential yield trends have likely differentially impacted profitability of crop agriculture across Ohio’s counties.

►   Statistically significant differences in county yield growth from state yield growth pose a potential policy issue for Ohio’s CAUV (Current Agricultural Use-Value) Program.  CAUV determines assessed value for a majority of agricultural land in Ohio.  It uses a net-income approach partially based on a soil type’s yield potential for corn, soybeans, and wheat.  Potential yield for a soil type partially comes from the state’s most recent comprehensive soil survey (Zobeck, Gerken, and Powell, 1983). This yield value, from the early 1980s, is then adjusted based on the state-wide trend in harvested yield for each of the three crops.  The significant differences between county and state-wide yield trends raises the potential issues of whether or not the use of state-wide yield trends to adjust a soil productivity index dating to the early 1980s continues to be appropriate policy and thus if an update of the soil productivity index may be an appropriate policy option.

Data Note:  The statistical method used for this analysis is multiple linear regression.  Unit of observation is a county-year in Ohio from 1972 to 2018.  Statewide yield is included as well.  Dependent variable is county yield (for corn, soybeans, or wheat) for a given year.  It is regressed on time, measured as a count of years starting with 1972 equal to zero.  A county specific intercept and a county specific annual trend are estimated.  The statistical test of interest is if a county specific annual yield trend is statistically different from the statewide annual yield trend for a given crop.  Since the county specific annual trend and statewide annual trend are both estimated coefficients, an F-Test is constructed with the null hypothesis that the two trend coefficients are equal to each other.  An F-test rejection of a null hypothesis is a function of both the difference between the two estimated coefficients and the estimated standard error of the coefficients.

References and Data Source:

US Department of Agriculture, National Agricultural Statistics Service.  (April 2019).  2017 Census of Agriculture:  United States  Summary and State Data. Volume 1, Geographic Area Series, Part 51.  AC-17-A-51   www.agcensus.usda.gov

Zobeck, TM, JC Gerken, and KL Powell. 1983. “Ohio Soils with Yield Data and Productivity Index.” Ohio State Univeristy Cooperative Extension Service.  Bulletin 685.

Fun in the Fall: Minimizing Liability at Your Agritourism Operation

By: Evin Bachelor, Wednesday, September 04th, 2019
Source: https://farmoffice.osu.edu/blog/wed-09042019-206pm/ohio-ag-law-blog-fun-fall-minimizing-liability-your-agritourism-operation
Whether we’re ready or not, Labor Day traditionally marks a transition from summer to fall.  Pumpkin flavored everything will soon be available at a coffee shop and restaurant near you, and Ohio’s agritourism farms will surely be busy.

Whether you are just getting your agritourism farm up and running, or a seasoned agritourism veteran, it never hurts to take a moment to think about your liability risks.  The OSU Extension Agricultural & Resource Law Program has developed a number of resources, available on our publications webpage, that can help you think about ways to minimize the legal risks to you and your farm.  These resources include:

  • Ohio’s Agritourism Law – Ohio law grants liability protection for personal injuries suffered while participating in an agritourism activity.  It also provides for special taxation and zoning of lands where agritourism activities occur.  This law bulletin explains what your farm needs to do to be covered by the immunity, and how much protection it provides.  Click HERE to read the law bulletin.
  • Farm Animals and People: Liability Issues for Agritourism – Farm animals can be a valuable attraction for an agritourism operation, but having people and animals interact on the farm creates liability risks.  This factsheet explains a range of animal liability risks and provides a checklist to think about what you can do to reduce the risk of injury to your visitors, as well as reduce the risk of a lawsuit.  Click HERE to read the factsheet.
  • Agritourism and Insurance – Even with immunity laws in place, a farmer must carefully consider the farm’s insurance needs and ensure that it has adequate coverage.  This factsheet explains agritourism insurance, why it may be needed, and more.  It also provides a checklist that may help an agritourism farmer make sure that certain important insurance questions are addressed before an accident occurs.  Click HERE to read the factsheet.
  • Agritourism Immunity Laws in the United States – Many states, including Ohio, have taken steps to encourage agritourism by providing agritourism farms with some degree of immunity to liability.  We explain Ohio’s law more in depth in our law bulletin titled “Ohio’s Agritourism Law,” but this factsheet compares approaches taken in other states and provides a checklist that helps an agritourism farm think about how much protection it has under these laws.  Click HERE to read the factsheet.
  • Agritourism Activities and Zoning – Zoning is a force to be reckoned with in many states, but many states, including Ohio, have taken steps to encourage agritourism through zoning regulations.  This factsheet explains how zoning and agritourism interact across the country, including an explanation of Ohio’s current approach.  Click HERE to read the factsheet.
  • Youth Labor on the Farm: Laws Farmers Need to Know – Many Ohio agritourism farms provide employment to youth, who are able to learn about agriculture, business, and customer service through working at the farm.  Those hiring youth under the age of 18 want to make sure that they are following federal and Ohio labor laws.  Our latest law bulletin explains the youth labor laws that are unique to agriculture.  Click HERE to read the factsheet.

Food sales present some special issues that you will want to think about if you wish to sell food at your farm.  Depending upon the foods you sell, you may have to obtain a retail food establishment license for food safety purposes.  The following resources can help you think through the steps you must take to sell food at your agritourism farm:

  • Food Sales at Agritourism Operations: Legal Issues – Whether you sell fresh produce, cottage foods or baked goods, or prepare and serve food on-site, there are legal risks and requirements that may come into play.  This factsheet explains some of the legal issues you should consider before selling food at your farm, and provides a checklist of things to consider before you begin selling food.  Click HERE to read the factsheet.
  • Selling Foods at the Farm: When Do You Need a License? – This Ohio-specific factsheet explores farmers, including those operating an agritourism farm, need to register or obtain a license in order to sell food at the farm.  Click HERE to read the law bulletin.

Beyond our website, many of our peers at OSU Extension have developed a number of helpful resources for agritourism farms.  OSU Extension’s Agritourism Ready webpage, which you can access at u.osu.edu/agritourismready/, is designed to be a one stop shop for preparing an emergency management plan.  You can also read factsheets on Ohioline related to agritourism ranging from “Creating Signage for Direct Food and Agricultural Sales” to “Grants and Low-Interest Loans for Ohio Small Farms,” and “Maps, Apps and Mobile Media Marketing” to “Selling Eggs in Ohio: Marketing and Regulations.”

As new legal issues arise, we will continue to create resources that help farmers understand and mitigate their risk.  In the meantime, we wish everyone a fun and safe fall at Ohio’s agritourism farms.

“Ask the Expert” Area Seeks to Help Farmers at this year’s Farm Science Review

Each year, faculty and staff of The Ohio State University address some of the top farm management and veterinarian medicine challenges which Ohio farmers are facing during the “Ask the Expert” sessions held each day at the Farm Science Review at the Molly Caren Agricultural Center near London, Ohio.

The 20 minute “Ask the Expert” presentations at Farm Science Review are one segment of the College of Food, Agricultural, and Environmental Sciences (CFAES) and the College of Veterinary Medicine comprehensive extension education efforts during the three days of the Farm Science Review which will be held September 17-19 in London, Ohio.

Our experts will share science-based recommendations and solutions to the issues growers are facing regarding weather impacts, tariffs, veterinarian medicine, and low commodity prices. Producers are encouraged to attend one or more of the sessions throughout the day.

The sessions will take place in the Ohio State Area in the center of the main Farm Science Review exhibit area located at 426 Friday Avenue. This year’s featured sessions are:

Tuesday, September 17, 2019
“Tax Strategies Under the New Tax Law” presented by Barry Ward
10:00 – 10:20 a.m.

“Climate Smart- Weather, Climate & Extremes-Oh My!” presented by Aaron Wilson
10:20 – 10:40 a.m.

“Before the Pearly Gates- Getting Your Farm Affairs in Order” presented by David Marrison
10:40 – 11:00 a.m.

“Crop Inputs & Cash Rent Outlook for 2020” presented by Barry Ward
11:00 – 11:20 a.m.

“Farm Stress-We Got Your Back” presented by Dee Jepsen
11:20 – 11:40 a.m.

“The Legal Buzz on Hemp” presented by Peggy Hall
11:40 – 12:00 noon

“Current Status of African Swine Fever” presented by Scott Kenney
Noon to 12:20 p.m.

“Farm Income Forecasts: Are Farmers Experiencing Financial Stress?” presented by Ani Katchova
12:20 – 12:40 p.m.

“How Much Money Stayed on the Farm? 2018 Ohio Corn & Soybean Production Costs” presented by Dianne Shoemaker
12:40 – 1:00 p.m.

“Where Are We on U.S. Trade Policy” presented by Ian Sheldon
1:00 – 1:20 p.m.

“Farm Accounting: Quicken or Quickbooks” presented by Wm. Bruce Clevenger
1:20 – 1:40 p.m.

“Commodity Markets – Finding Silence in the Noise” by Ben Brown
1:40 – 2:00 p.m.

“GMOs, Food Animals, and Consumers” presented by Dr. Gustavo Schuenemann
2:00 – 2:20 p.m.

“Solar Leasing Options” presented by Peggy Hall & Eric Romich
2:20 – 2:40 p.m.

“Poultry Backyard Disease Management” presented by Dr. Geoffrey Lossie
2:40 – 3:00 p.m.

Wednesday, September 18, 2019
“Climate Smart- Weather, Climate & Extremes-Oh My!” presented by Aaron Wilson
10:00 – 10:20 a.m.

“The Legal Buzz on Hemp” presented by Peggy Hall
10:20 – 10:40 a.m.

“Zoonotic Diseases: Can I really get sick from my 4-H Project?” presented by Dr Jacqueline Nolting
10:40 – 11:00 a.m.

“Solar Leasing Options” presented by Peggy Hall & Eric Romich
11:00 – 11:20 a.m.

“Where Are We on U.S. Trade Policy” presented by Ben Brown
11:20 – 11:40 a.m.

“Impact of Peak Electrical Demand Charges in Agriculture” presented by Eric Romich
11:40 – 12:00 noon

“Crop Inputs & Cash Rent Outlook for 2020” presented by Barry Ward
12:00 – 12:20 p.m.

“Commodity Markets – Finding Silence in the Noise” by Ben Brown
12:20 – 12:40 p.m.

Public Perception Risk: Building Trust in Modern Agriculture by Eric Richer
12:40 – 1:00 p.m.

“Farm Stress-We Got Your Back” presented by Dee Jepsen
1:00 – 1:20 p.m.

“How Much Money Stayed on the Farm? 2018 Ohio Corn & Soybean Production Costs” presented by Dianne Shoemaker
1:20 – 1:40 p.m.

“Poultry Backyard Disease Management” presented by Dr. Geoffrey Lossie
1:40 – 2:00 p.m.

“Tax Strategies Under the New Tax Law” presented by Barry Ward
2:00 – 2:20 p.m.

“CRISPR gene editing: Are super animals within our reach?” presented by Dr. Scott Kenney
2:20 – 2:40 p.m.

“Using On-Farm Research to Make Agronomic and Return on Investment Decisions” presented by Sam Custer
2:40 – 3:00 p.m.

Thursday, September 19, 2019
“Horse Health Care and How to Feed a Horse” presented by Dr. Eric Schroeder
10:00 – 10:20 a.m.

“Farm Stress-We Got Your Back” presented by Dee Jepsen
10:20 – 10:40 a.m.

“Tax Strategies Under the New Tax Law” presented by Barry Ward
10:40 – 11:00 a.m.

“The Legal Buzz on Hemp” presented by Peggy Hall
11:00 – 11:20 a.m.

“Solar Leasing Options” presented by Peggy Hall & Eric Romich
11:20 – 11:40 a.m.

“Commodity Markets – Finding Silence in the Noise” by Ben Brown
11:40 – Noon

“Crop Inputs & Cash Rent Outlook for 2020” presented by Barry Ward
12:00 – 12:20 p.m.

“Antibiotic Use in Animals-Does it Impact for Human Health” presented by Dr. Greg Habing
12:20 to 12:40 p.m.

“Where Are We on U.S. Trade Policy” presented by Ben Brown
12:40 – 1:00 p.m.

“Swine Biosecurity” presented by Dr. Carlos Trincado
1:00 – 1:20 p.m.

“Nutritional Support for Ruminants in Winter” presented by Dr. Jeff Lakritz
1:20 – 1:40 p.m.

“How Much Money Stayed on the Farm? 2018 Ohio Corn & Soybean Production Costs” presented by Dianne Shoemaker
1:40 – 2:00 p.m.

The complete schedule for the Ask the Expert sessions and other events at the 2019 Farm Science Review can be found at: https://fsr.osu.edu/

Additional farm management information from OSU Extension can be found at ohioagmanager.osu.edu or farmoffice.osu.edu

Source:
David Marrison, OSU Extension
740-622-2265
Marrison.2@osu.edu

#leanonyourlandgrant

Corn Market Considerations

By: Clint Schroeder OSU Extension

Originally Published on

The United States Department of Agriculture (USDA) released their World Agriculture Supply and Demand Estimates (WASDE) report earlier this week and it has certainly taken the market by surprise. The debate continues to rage over how acres are classified by USDA and if the information contained in the report is accurate. The WASDE reported that corn acres nationally are at 90 million with another 11.2 million classified as Prevented Plant. The USDA also increased their national yield forecast to an average of 169.5 bushels per acre. This came as a major shock to the market and sent corn futures sharply lower. The December ’19 corn futures have traded 61 cents lower in the days following the report.

This report is especially problematic for producers in Ohio that have not forward contracted any bushels based on uncertainty of yields associated with delayed plantings.  There are also producers that are holding old crop corn in hopes that the cash price would reach levels over $5. This has lead to a very strong regional basis through the summer. It has also begun the process of demand rationing.  One of the major end users in Ohio is obviously the ethanol industry.  Unfortunately, September ethanol futures on the Chicago Board of Trade are trading at their lowest levels since October of 2014. One of the reasons for this is increased stocks. The industry closed the month of July with a new record of 24.5 million barrels stockpiled.  That represents an increase of 11% from the previous year. Needless to say these cumbersome stocks combined with a low futures price and a higher cash corn price, due to the strong basis, have had a negative impact on ethanol margins. It is important for producers to be aware of this situation as any significant rally in the futures or strengthening of the basis will ratchet up the pressure on ethanol plant managers. This could lead to the temporary shutdowns at plants throughout Ohio as managers wait for margins to improve.

Provided by Stephanie Karhoff – OSU Extension

The USDA will release the next WASDE on September 12th and it is unlikely that it will have as great of an impact as the August report. Many of the questions that farmers and traders have been left with will not be answered fully until after harvest data comes in. Given the unprecedented number of unplanted or delayed acres there are many questions on how many acres will actually end up harvested for grain. Ohio had reported over 880,000 of prevent plant corn acres to the USDA as of August 1st.  This will continue to be reflected in a stronger than normal basis in those areas that were most impacted. There also remains plentiful speculation on the possibilities of meeting the yield numbers that USDA has forecasted.

New Podcast Episodes

by: Amanda Douridas, OSU Extension Educator

The Agronomy and Farm Management Podcast has been releasing new episodes every other week since May 2018 and is set to release its 29th episode next Wednesday. To make it easier for listeners to find past episodes, the podcast has a new landing page at http://go.osu.edu/AFM.

Here you will find a listing of all past episodes, descriptions of what we talked about and links to additional resources. We cover a wide range of topics for corn, soybean and small grain farmers on agronomic and farm management topics. Episodes include legal topics such as leases, LEBOR, and hemp; timely seasonal topics like disease, insects and weather; and operational improving strategies related to nutrient management, precision agriculture and grain marketing.

Stay up to date on the latest episodes by following us on Twitter and Facebook (@AFMPodcast) and adding us to your favorites in Apple Podcasts or Stitcher. Give us a good rating and review if you like the podcast! If there is a listening platform you would like us to broadcast on or you have a topic suggestion, reach out on social media or by email at Douridas.9@osu.edu.

 

2018 Grape Pricing Index Survey Being Conducted

The Ohio State University Viticulture Extension Team in conjunction with the Ohio Grapes Industries Committee is conducting a state-wide survey of grape prices to better understand the distribution, harvest yield, and price of Ohio-grown grape cultivars from the 2018 season. Please take the time to fill out the 2018 Grape Pricing Index survey at the link below.

To facilitate survey marketing and distribution throughout our industry, the information we obtain will be available in aggregated form to Ohio grape growers and vintners through Ohio Grape Industries communication networks.  As grape prices will be averaged by variety and across regions, all individual responses will remain anonymous and confidential.

Your participation in this study is voluntary and involves minimal risks to you. If you refuse to participate or decide to stop participating in the study, there will be no penalty or consequences. Your decision to participate will not affect your future relationship with The Ohio State University. There is no cost to you except your time.

By clicking the link, you are consenting to take this survey. This survey may be exited at any time and takes approximately 5 minutes to complete.

We will work to make sure that no one sees your survey responses without approval. But, because we are using the Internet, there is a chance that someone could access your online responses without permission. In some cases, this information could be used to identify you.

If you have any questions regarding this survey, please email Maria Smith at smith.12720@osu.edu or call 330-263-3825.

For questions about your rights as a participant in this study or to discuss other study-related concerns or complaints with someone who is not part of the research team, you may contact Ms. Sandra Meadows in the Office of Responsible Research Practices at 1-800-678-6251 or hsconcerns@osu.edu.

Thank you for your time,

-The OSU Viticulture Extension Team

Please click on the following link to begin the Ohio grape pricing survey

https://osu.az1.qualtrics.com/jfe/form/SV_6RMGgGw7miB5v5r 

 

Should I Continue Farming?

by:  Chris Zoller, Extension Educator, ANR- Tuscarawas County

 It’s no secret that all of agriculture is suffering from years of low commodity prices and rising input costs. The economic struggles have affected you financially and physically. You’ve looked at the numbers, met with advisors, and talked to family.   The thought of selling part or your entire farm brings with it added worry and concern. What can you do?

Find someone you trust and with whom you feel comfortable discussing your situation. This person may not have many answers to your questions, but they can listen to your frustrations and worries. They may be able to help you sort through the confusion and develop a course of action. Think of your situation as a picture – a set of eyes looking at the picture from the outside may see things you can’t because you are caught up in the picture.

Understand that you are not alone. Nearly every farm and farm family is in a similar situation. Don’t live in the past or dwell on what could or should have been done. Take control of the situation and develop a plan for managing the things you are able to control.

Assessment

Evaluate your financial position by meeting with your lender to discuss options for restructuring debt. Can you extend the repayment terms to provide more cash flow? Contact your Extension Educator about completing a FINPACK analysis (https://farmprofitability.osu.edu/).

What are your Specific, Measurable, Attainable, Rewarding, and Timed (SMART) goals? How are your goals similar and different from those of family and/or business partners?

Develop a list of your education, experiences, and skills. How can you use these in another career? What career opportunities fit you best?

Evaluation

If you come to the decision that selling all or part of your farm is the best option, there are several items to address. Begin with a balance sheet and other financial information to understand your present financial situation. Doing so will help you decide how much money (and approximate number of assets) you must sell. You may want to meet with an appraiser, auctioneer, or real estate professional for help determining the expected value of assets.

Professionals

Your attorney can answer questions and advise you about legal considerations related to a sale. An accountant will help minimize your tax liability and give an estimate of what you may expect to pay in taxes.

Help is Available

There are people and agencies/organizations that can help with the transition and the emotions that come with the sale. Clergy, licensed counselors, and medical professionals can help you cope. Other sources of help include:

Ohio State University Extension (extension.osu.edu)

National Suicide Prevention (1-800-273-8255)

National Alliance for Mental Illness (1-800-950-6264)

Ohio Workforce Training (ohio.gov/working/training)

Ohio Job & Family Services, Office of Workforce Development (jfs.ohio.gov/owd)

Additional Information

Coming to the decision to sell all or a part of your farm is not an easy decision. Find someone with good listening skills. Talk to professionals, reach out for help, get answers, and make the best possible decisions. More information about this subject is available at https://ohioline.osu.edu/factsheet/anr-71.

 

“Improving Your Grain Marketing Plan” Workshops to be Held

Chris Bruynis, Ag & NR Extension Educator

 

Do you want to do a better job of pricing your corn and soybeans? Is grain marketing a confusing and daunting task? If so, this workshop is for you!

Ohio State University Extension is offering a three-session workshop focused on helping farmers become better grain marketers. Participants will have a better understanding of risk, marketing tools, and the development of written marketing plans. These workshops are funded through a North Central Risk Management Education Grant and being offered in six locations throughout Ohio. Additional information can be found at http://go.osu.edu/grainplan.

Participants will learn to identify their personal risk tolerance and their farm’s financial risk capacity. Both of these are important in developing a successful grain marketing plan. Participants will also learn how crop insurance products effect marketing decisions and effect risk capacity. Grain marketing consists of understanding and managing many pieces of information. Information on the different grain marketing contracts will be presented. These include basis, hedging, cash, futures, and option contracts. Additionally, participants will be provided an example of a grain marketing plan and the fundamental principles that should be included.

The courses will be offered on three consecutive Tuesdays, two locations each time. Programs in Paulding and Henry Counties will start January 8, 2019. The Fayette and Champaign County programs will commence on January 22, 2019. The final programs will be in Miami and Darke Counties starting on January 29, 2019. For specific times and locations, as well as program registration instruction, go to http://go.osu.edu/grainplan and select the county you plan to attend. Cost for the program is $45.00 for the first registration and $60.00 for two registrations from the same farm business. Included in registration are the workshop notebook and meals/refreshments (depending on location).

To request additional information or have questions answered, contact Amanda Bennett at 937-440-3945 or at bennett.709@osu.edu

 

Agronomy and Farm Management Podcast

by: Amanda Douridas and Elizabeth Hawkins

Stay on top of what is happening in the field and the farm office as Amanda Douridas and Elizabeth Hawkins interview experts in agronomy and farm management. Hosted by Ohio State University Extension, this podcast takes a bi-monthly dive into specific issues that impact agriculture, such as: weather, land value, policies, commodity outlooks, and more.

This podcast began in May 2018 and has a great library of podcasts to choose from. This winter, we will feature some of the Ask the Expert interviews that occurred during Farm Science Review on Farm Management topics. Catch up on the ones you missed during the show.

Subscribe through iTunes at http://go.osu.edu/iTunesAFM or Stitcher at http://go.osu.edu/StitcherAFM to have the newest episodes added to your playlist. Stay up to date with us on Facebook @AFMPodcast and Twitter @AFM_Podcast.

 

2019 Outlook Meetings to be held Across Ohio

by Amanda Douridas, Extension Educator

Ohio State University Extension is pleased to announce the 2019 Agricultural Outlook Meetings! In 2019 there will be seven locations in Ohio. Each location will have a presentation on Commodity Prices- Today’s YoYo. Additional topics vary by location and include U.S. Trade Policy: Where is it Headed, Examining the 2019 Ohio Farm Economy, Weather Outlook, Dairy Production Economics Update, Beef and Dairy Outlook, Consumer Trends, and Farm Tax Update.

Join the faculty from Ohio State University Extension and Ohio State Department of Agricultural, Environmental, and Developmental Economics as they discuss the issues and trends affecting agriculture in Ohio. Each meeting is being hosted by a county OSU Extension Educator to provide a local personal contact for this meeting. A meal is provided with each meeting and included in the registration price. Questions can be directed to the local host contact.

The outlook meeting are scheduled for the following dates and locations:

Date: January 14, 2019 Time: 7:30 am – 10:30 am Speakers: Ben Brown, Barry Ward, Ian Sheldon, Zoe Plakias, Aaron Wilson Location: Emmett Chapel, 318 Tarlton Rd, Circleville, OH 43113 Cost: $10.00 RSVP: Call OSU Extension Pickaway County 740-474-7534 By: January 12th More information can be found at: http://pickaway.osu.edu

Date: January 17, 2019 Time: 8:00 am – noon Speakers: Barry Ward, Ben Brown, Ian Sheldon, Aaron Wilson Location: Der Dutchman, Plain City, 445 S Jefferson Ave. Cost: $15.00 RSVP: Call OSU Extension, Union County 937-644-8117 By: January 10th More information can be found at: http://union.osu.edu

Date: January 24, 2019 Time: 9:00 am – 12:00 noon Speakers: Barry Ward, Ben Brown, David Marrison Location: St Mary’s Hall 46 East Main St. Wakeman, OH 44889 Cost: No Charge; $20.00 if past deadline RSVP: Call OSU Extension, Huron County 419-668-8219 By: January 22nd More information can be found at: http://huron.osu.edu

Date: January 28, 2019 Time: 6:00 pm – 9:00 pm Speakers: Ian Sheldon, Ben Brown, Aaron Wilson Location: Jewell Community Center Cost: $10.00 (after deadline $20.00) RSVP: OSU Extension, Defiance County 419-782-4771 By: January 22nd More information can be found at: http://defiance.osu.edu

Date: January 30, 2019 Time: 9:30 am – 3:30 pm Speakers: Ian Sheldon, Ben Brown, Barry Ward, Dianne Shoemaker, David Marrison, Kenneth Burdine Location: Fisher Auditorium Cost: $15.00 RSVP: Call OSU Extension, Wayne County 330-264-8722 By: January 24th More information can be found at: http://wayne.osu.edu

Date: February 13, 2019 Time: 5:30 pm – 9:00 pm Speakers: Barry Ward, Ben Brown, Ian Sheldon Location: Wayside Chapel, 2341 Kerstetter Rd.,  Bucyrus OH 44820 Cost: $15.00 RSVP: Call OSU Extension, Crawford County 419-562-8731 or email hartschuh.11@osu.edu By: February 5th More information can be found at: http://crawford.osu.edu

Date: March 22, 2019 Time: 11:00 am – 4:00 pm Speakers: Barry Ward, Ben Brown, David Marrison, Ian Sheldon Location: Chamber Ag Day / Ag Outlook meeting, Darke County Romers 118 E Main St., Greenville Registration Flyer: http://go.osu.edu/2019darkeagoutlook Cost: $20 RSVP: Darke County Extension office at 937-548-5215 By: March 16th More information can be found at: http://darke.osu.edu